First United Bank & Trust Lowers Stake in Genuine Parts (NYSE:GPC)

First United Bank & Trust lowered its stake in shares of Genuine Parts (NYSE:GPC) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,499 shares of the specialty retailer’s stock after selling 175 shares during the period. First United Bank & Trust’s holdings in Genuine Parts were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GPC. Wulff Hansen & CO. lifted its holdings in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares during the last quarter. Natixis lifted its holdings in shares of Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares during the last quarter. Anchor Capital Advisors LLC lifted its holdings in shares of Genuine Parts by 1,457.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after purchasing an additional 252,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

NYSE:GPC opened at $140.41 on Wednesday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.56 billion, a PE ratio of 15.65 and a beta of 0.90. The stock’s 50-day moving average price is $138.63 and its 200-day moving average price is $143.34.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the business earned $2.44 earnings per share. Genuine Parts’s revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial restated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $161.14.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.